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FOX Business
Jun 20, 2013 3:00pm EDT
cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we had a lot of 200. swings in the last 21 days since ben bernanke and his testimony may 22nd. half of those, ten of the 21 actually had 200. swings. the volatility is here and today you are obviously seeing a bigger move unusual. 350 points to the downside. cheryl: and an unusual move. that is how you would characterize this. >> reporter: absolutely an unusual move. essene the volatility of 10200, but not 350. cheryl: you will get back to you in a moment. phil flynn at the cme. >> reporter: it is a metals meltdown. what temperature doubles milton mack probably when the fed starts talking about a brief. the dollar is soaring
PBS
Jun 21, 2013 2:30pm PDT
. >> the economy has suffered, and so have local businesses. in that sense, i do not support further protests, but if the prime minister had expressed himself better, if he had been more accommodating, things would never have got so bad. he likes to project power. this is how he travels to his political rally. to his critics, the heavy- handed police response to the protest symbolizes the heavy- handed attitude of his government. for some, enough is enough. >> they do not want to be told how to lead their lives, how many children they should have, what kind of bread they should eat, what they should drink or not. they are just fed up. it is also partly a reflection of the fact that people decided that they needed to speak up, to sort of remind the government that there are these other people out there who have a different view of how the country should be run and that their views should be respected and taken into account. >> so at 9:00 every night, they bang their pots and pans in noisy protests against the government that has won three elections and looks set to win another. they are callin
CNBC
Jun 20, 2013 4:00am EDT
the fedotenko start scaling back its bond buying program at the end of the year if the economy continues to improve. his comments at the meeting shook the stock and bond market. it's greater optimism. the unemployment could drop to 6 point phone 5% in 2014. that's a year earlier than previously thought. they're still not concerned about inflation and think gdp might expand faster than 3% over the next two years. bernanke tried to draw a distinct line between tapering and the end of qe 2. >> the most important thing that i just want to convey again is that it's important not to say this date, that date, this time. it's important to understand our policies are economic dependent. >>> so coming from the fed. equities sold off in the united states. you can see here just about 35, 40 stocks on the dow jones 500. ftse up 1 2/3. the pmi number. basic resources are the biggest seller. that comes off with china, hsbc pmi down at a nine-month low. new orders down. we're getting more on that from munich. the market reaction, this means commodities are weaker as well to date. spot gold down 3% this
CSPAN
Jun 21, 2013 7:00am EDT
wall street journal," -- -- he went on to say, "the economy is recovering too slowly and should not be regarded as the new normal." >> we need a new approach. an approach that removes obstacles of growth, prosperity -- of growth and prosperity. unleash the nation of builders. to become a nation of builders and i think we have to stop picking winners and losers and start focusing on expanding opportunity for everyone. we started out by giving our kids a good chance at an education. to hirend opportunity axa's education so students are ready for tomorrow's job market. to become a nation of builders again, we need to fix our tax code. if we clear out all of these loopholes and make the tax code fair it is going to make it easier to understand, we will be creating more incentives to bring jobs home, and keep our resources here in america. a host: john boehner before the national association of manufacturers. this headline from "the -- this editorial from "the wall street journal" -- joseph on our twitter page has this comment -- logan is on the phone from las vegas on our independen
CSPAN
Jun 15, 2013 9:00pm EDT
: they just thought by designing the system, by putting the -- under a collective economy they could bring great results. [speaking mandarin chinese] >> translator: they are stripped everybody's freedom. [speaking mandarin chinese] >> translator: nobody has a freedom to find food . >> to grow food. >> translator: to grow them and find food according to their own effort. >> so they collectivized -- they collectivized farming. [speaking mandarin chinese] >> took away the incentive to grow -- [speaking mandarin chinese] >> translator: dismantled individuals and individual house hold as production units. >> there was grain in the agricultural areas, but it got sent away; correct? [speaking mandarin chinese] >> translator: the grain production is -- [inaudible] the grain production was rejuiced by huge -- reduced by a huge amount. they took away the incentive, as you said of production. >> they also took it away. the grain itself? correct? they took it to the city. [speaking mandarin chinese] >> translator: so the government simply took away the harvest, the yields of all of it. [speaking manda
SFGTV2
Jun 18, 2013 12:00am PDT
companies are doing, the technologically oriented companies that are part of a share economy, get more people involved in the economy in general, and creating ideas about how people can participate. we came across a very great idea that as we go through more exercises in our disaster preparedness, ann and her staff have been great at that. in fact, the last one i kind of had fun in, how do we feed 10,000 people in the middle of the tenderloin in a major erredthtion quake disaster. we walked through that. we saw how meals are served. we tried to do it in the proper way. ~ earthquake we know we're going to need a lot of help. the main message that we wanted to have was after a disaster hits, we want the message to be out before disaster, during a disaster, and right after, that we welcome everybody to participate in our recovery. and the best way to recover quickly and faster is we engage everybody immediately about how we can help and assist each other. and that's partly a philosophy of the sharing economy as well. and whether it's a need for space, people need to have space as they did
CNBC
Jun 21, 2013 4:00pm EDT
suggest that the economy's doing better. if we continue to escalate a lot higher, like we have been -- i mean, we're up 87 bips on the 10-year in a month and a halftime. if we continue with that pace, that's what will cause the volatility, i think you want to use the volatility to pick out long-term themes -- in housing, aerospace, the industrials, and even start to look at the defensive stocks as they come down. >> rebecca, part of the issue for the markets has been currencies, has been credit, obviously. i mean, the dollar soaring against all currencies, right? euro, brazil, across the board. >> i think the dollar is likely to stay strong. the u.s. interest rate trend, i think, is going to be with us for a while. maybe not 30 years like falling interest rates were. but it could be for a couple of years. and so, if we're in that environment where you have rising interest rates, a stronger dollar, weaker commodity prices, when you think about the u.s. stocks you want to own, you want to think about names that are going to do well in a strong dollar, weak commodity environment. there are
FOX Business
Jun 19, 2013 1:00pm EDT
? this global economy. certainly, ups is a definite no whether to where we are headed. right now, checking out stocks. nicole petallides on the floor of the new york stock exchange. nicole: the dow jones industrials down about 28 points. not to off the unchanged line. there is this wait and see mode today. the last trading days have been up more than 100 trading points. the volatility is back. it has been the name of the game since may 22. we heard that tapering maybe in the future. right now everyone is just waiting to see what the fed really has to say. the language is so key here. everyone is waiting to see. right now you can see that the dow is down just slightly. lori: you summed it up beautifully for us. we will get one of the most federal reserve statements ever and less than an hour. will we get any clue as to when tapering will begin? thank you so much for joining us. what are you expecting to hear from the fed today? >> i expect no change. the statement is key. i will look for the labor market. is this the best that we are going to get? if, yes, i expect the taper to put off. lori: o
FOX Business
Jun 20, 2013 1:00pm EDT
. the difference this time around, the economy is better, housing is better, the labor market is better. this time around, i think it is a little different, a little bit better fundamental backdrop. tracy: let's talk about how we can position our bonds for it. >> it is hard to know exactly where this will settle out. the move of two to 40 has been pretty dramatic. we may have already covered a lot of the ground we will cover. on the equity side, i think you have to be overweighted in the u.s. still. i like the domestics of the goals. we are the only major market in the world that is growing and i think stocks here are still reasonably priced. tracy: i know you also like tech. >> the problem with tech is you have to be a little discriminating because as a factor, it derives more of its product overseas than ever. the tech sector, in my view, again, is pretty reasonably valued. tracy: we have to talk about commodities. gold is down. event gold typically down this time of year? >> i would not be getting into gold. i think gold is being washed out as a result of the fed's projections. the rest of the
SFGTV2
Jun 21, 2013 5:00pm PDT
and any type of economic activity spreads through the entire economy. it is a great example of everybody working together. city economic development is the engine of our nation and we need to provide an environment with start ups that can flourish and if we do that, all the the grid lock in washington, our economy will grow. i would reach to everybody to remember that everybody has problems, every government has problems. when you look at america, we've had 235 years of dysfunction and it's doing well so far. maybe it comes with the territory. san francisco has shown how government can function and the citizens of san francisco and the whole region are benefit ting from it. we've had something like a 30 percent in tech growth. this is what we call the big app instead of the big apple. in the next decade the capital will continue to grow. last year it was like a hundred new york city based companies that acquired $1.8 billion. it's just the beginning. if you think about san francisco and new york, the future couldn't be brighter because tech business is where the business is where people
CNBC
Jun 18, 2013 7:00pm EDT
today, and roughly 2% under performing economy, there's just no reason for interest rates to jump higher. the u.s., by the way, is really the only global stock market game in town. our companies are profitable. so at these levels it may not be roaring bullish. i don't think the fed is going to taper down tomorrow, and i do believe the bull market is far from over. that's my take. let's welcome kenneth heed ner. and i'm joined by george gilder. he has the book "knowledge is power." ken, what say you? >> i say that we have a number of years of growth ahead of us in the economy. it's growing at 2%. it's going to accelerate as consumer confidence rises with rising housing prices. we'll see 3, 4, 5% growth rate. >> 3, 4, 5%, those are big numbers. you had an okay housing number today but housing starts are up 29% on year. here's my inflation point. the year-to-year cpi, 1.4%. guys like me two years ago worry about inflation, money printing, i was wrong. i said that before. the best set indicator, 1.0%. without inflation, why should inflation rates have to go higher? >> they go a little bit hi
CNBC
Jun 19, 2013 7:00pm EDT
not be until december or early next year. third point, the u.s. economy's still only growing sluggishly, only 2% growth. just about 1% inflation. modest profits. falling gold. and a steady king dollar. interest rates in my view are not going to skyrocket. there's more money to be made in stocks. the second half is going to be a slower slog than the first half. okay? that's my take on the story. here now we bring in former federal reserve governor frederick mishkin, currently an economics professor at columbia university. welcome back, rick. i just want to ask you, this is a very complicated news conference and a lot of people are saying many different things. first of all, let me ask you if i have the story right. i heard the news conference. the fed will slow down bond purchases toward the end of the year. is that what bernanke said? >> i think what they're trying to do, they've been very concerned, i'm sure, about all the volatility in the markets. and they want to make sure that people understand that in fact they are going to get out of this purchase program, which raises a lot of complicat
CNBC
Jun 21, 2013 6:00am EDT
what he said? valuations are attractive still. businesses are doing well. the economy is strengthening. get this. he says even with $20 billion, he opportunity have enough money to take advantage of all the opportunities here. >> 20. it's not all his. >> he says he's not looking at this point like, look, maybe the rate of the market has slowed down. we're not talking about three year doubles at this point. he says for his funds he's looking more five or six years for doubling. maybe nine or ten for the market. still talking about a very strong market and a place he sees great opportunity. >> these are times you try to keep your cool. >> got to have some powder. got to have dry powder. >> i wish we had all the guys looking for -- if they were to come on and say no, no, no, i'd feel better. they're never able to pull the trigger. want to go overseas? >> i think we should. for a moment. >> take us there. >> i hear this whole thing in china is kind of just not just ben bernanke creating some problems. let's talk about trading in asia and europe today. ross westgate standing by in london. f
FOX Business
Jun 21, 2013 11:00am EDT
that is something that is likely. you would have to see something happening much bigger in the overall economy. i do not think it is likely. >> during the recession, new home construction dropped by roughly half. now, thanks to supply and demand, we are starting to see what could be a very robust housing market. a great deal will depend on the broader economy. connell: david, thank you. david lee miller four us in the newsroom. great story. dagen: new regulations could create a labor shortage in that industry. connell: added to my long-standing theory. nevermind. twitter founder jack dorsey teaching small business leaders how to harness attention in social media. he sat down with our friend, peter barnes. talking about rates all day long. dagen: hello. connell: hey, how's it going? dagen: that is a big move. connell: exactly.% a big move from where we were. we will be right back with more "barkett now." ♪ i want to be prepared for the long haul. ishares minimum volatility etfs. foa smoother ride. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackr
MSNBC
Jun 21, 2013 9:00am PDT
poverty for the lowest income people. and actually, served as a good stimulus for the economy at the same time. >> i mean, and the meme around food stamps has been incredibly divisive. and really false. and i must play the sound from louie gohmert who is really a one-man band in terms of sound bites and outrageous commentary. let us hear what louie gohmert had to say on the floor of the house yesterday. >> standing in line at a grocery store behind people with a food stamp card, and they look in their basket, as one individual said, "i love crab legs," you know the big king crab legs. i love those and then sees the food stamp card pulled out and provided. he is actually helping pay for the king crab legs. when he can't pay for them for himself. >> so everyone on food stamps is apparently buying king crab legs, eugene. >> yeah. >> they're living off the largess of our government. >> king crabs are going to have to be added to the endangered species list, i guess, according to louie gohmert. you know, it's wrong, number one. it's -- it's insulting. it's demeaning. and it's probably the way
CSPAN
Jun 22, 2013 2:10pm EDT
an immigration system in our country that meets the needs of a growing economy, the biggest economy in the world that focuses on making our country stronger, not weaker, and hopefully will put this debate behind us. so i yield the floor. >> yield for a question. first could i say all of us who have had the honor of working with you and the senator from north dakota greatly appreciate the work that you've done. if there is going to be a broad bipartisan support for the final product it will be because of what you and the senator from north dakota have done. and i'm very, very grateful for that. and i think that it is important wouldn't you agree that people understand that this is a very tough bill. and it required a lot of cooperation from our friends on the other side of the aisle to go along and agree with this. i think that they've shown a great deal of compromise in order to reach this point and agree with us on this legislation, which clearly we need bipartisan support for. but i would like to ask the senator again for a couple of specifics. because i think it is important we understand how
CNBC
Jun 19, 2013 9:00am EDT
mean for commerce and economy. >>> and now a backing off of a bid for sprint by dish, and they will concentrate on clearwire. >>> and also, a look at icahn stepping up dell bid. >>> and now the fed is wrapping up the two-day policy meeting this afternoon. investors hoping that fed will provide clarity about how and when the fed will wind down the bond buying program. make sure to watch the statement, and ben bernanke's news conference which is i perhaps more important, and it starts at 2:00 p.m., and one way or another, it is going to be nice to get something out of the way, wouldn't it? >> yes, i used to regard these events as big bad events when i worked at the hedge fund, because there could be relief even if he says the wrong thing and i'd love for him to address the 10-year, because it signals that the e kconomy is better, b it is not just weak. but if you address the 10-year, i'm in control and the bond vigilantes are not. i believe when this is over, we will come back and discuss -- i'm not kidding -- stocks. >> although, is it possible that the language that h
MSNBC
Jun 20, 2013 2:30am PDT
sweet. >>> federal reserve chairman ben bernanke has a little more positive view of the u.s. economy. but that sent markets tumbling. cnbc's andrew ross sorkin, my friend. >> hey, my man. how are you? >> i'm doing well. >> great to see you. >> congratulations, by the way. i'm probably two or three weeks late here, but it's -- it's been probably more than that but marv tlous watch you every morning. >> i know you miss me. we need to know why the stock market tumbles so strongly when mr. bernanke says we might stop something in the future but nothing is happening right now. >> because we've indicated for the first real time that we are taking the drugs away from the patient. that's what's happened here. this is all about whether we can handle it. it's sort of -- it's kind of like antibiotics. you are supposed to take them to a certain point and then stop taking them before they finally kick in and start to work. it's hard to gauge when you are supposed to stop with the medicine. and that's really the question right now. the market clearly feels that the economy isn't out of the woods y
PBS
Jun 20, 2013 7:00pm PDT
reserve had fuelled gapes for months investing billions to get more money 234r0eing through the economy. the central bankers suggested that if the recovery continued, they could scale back investments. ben bernanke said they would evaluate threats and believe the risk for the economy have diminished. investors don't like what nay are hearing. they fell by about 3%. and they are hoping for more stability to close out the week. managers at japan's biggest banks have their own executives at bank of tokyo ufj agreed to pay $250 million to regulators in new york. they transferred billions to countries facing u.s. sanctions. they moved $100 billion to iran, myanmar and sudan in violation of new york state law. between 2002 and 2007 they carried out about 28,000 such transactio transactions. managers instructed employees to strip information from wire transfer messages that could identify countries and people subject to international sanctions. bank officials say they have been working since 2007 to meet obligations. they said in a statement that they are cooperating with the regulators. u.s.
SFGTV2
Jun 21, 2013 4:30pm PDT
significant budget deficits. but because we have pursued policies to control costs, grow our economy, create jobs and stabilize our fiscal health, this year i'm proposing a budget that protects our social safety net, one that increases public safety, and one that invests in our city's infrastructure at unprecedented levels. and it is a budget that significantly grows our city's reserves. this budget is being delivered as san francisco's economy is recovering, going, and moving in the right direction. and san franciscans are getting back to work. in fact, our unemployment rate has dropped, as you all know, from 9.5% in january of 2011 to an astounding 5.4% just last month. (applause) >> i know, i know it has -- it has not been easy. we've had to work hard with our health services system, our care -- our health care providers, and labor to reduce employee health care costs. and because of our collaboration, we will now save $52 million over the next two years. and we've made tough but necessary choices on everything from escalating pension costs to reforming our unfair job punishing business t
SFGTV2
Jun 22, 2013 12:00am PDT
of the city's economy that all city of san francisco benefits. all of the people who ride these buses are really benefitting everybody because they are not out on their own vehicles in the road causing pollution and congestion. they are getting around san francisco in the cleanest way possible and really contributing to what makes the economy strong. we are super excited about these vehicles for us and for our operators and mechanics and they are really a great benefit for all san francisco. i want to acknowledge some people. i have been a member of my board of directors, my bosses, chairman to director jerry lee, ramos, i don't know if anybody else is here. mohammed the director of public works and we are going to hear a little bit about how these buses are part of the public space. just like these are clean, we want to keep these clean. the buses here from input, from our operators, transit workers union local 258. the san francisco transit riders union. the mta advisory committee. a lot of folks working together, our fleet engineers, mechanics, supervisors, operators, most of whom
SFGTV2
Jun 22, 2013 2:00pm PDT
a whole bevy of coming in this economy that affects the management and the host company that is start ing in san francisco that want to plan with us and not wait for a disaster to hit and then find out that we could have accessed many people. that is helpful for the mayor to search for more partners and get ready and be more excited about recovery. when you look at what happened in new orleans and all the victims of tornados. they always tell you they could have been more ready for this had they engaged people ahead of time. this is what we are doing to improve these changes. if the economy gets hit by a major earthquake, that's an incredible hit to the rest of the country. we have to invest a lot more. that is one example of how we can use a lot more technology companies helps us with things that have challenged our cities. >> the likelihood of an earthquake is less than out here, although i have lived in city hall, working there one day when the building actually shook. it was the first that i noticed. everything did shake a little bit. it wasn't particularly frightening. right now we a
MSNBC
Jun 21, 2013 12:00am PDT
economy, then you're going to be shocked by the report "rolling stone" has for us tonight. that's coming up. also a shocking turn of events on the house floor as the house speaker brings crucial legislation to the floor and watches it go down in flames. i'll tell you why what's bad for john boehner is good for the country. >>> plus bailouts of struggling casinos? it is also something that is totally happening. we begin tonight with a truly rare bit of genuine progress from congress. excellent news that nonetheless has me seething with anger. here's what's happening that's great news and infuriating. making sure 11 million immigrants are given a road to citizenship is trying to pass a bill by a huge margin in the senate. they are called the gang of eight and the reason they think they need the huge margin victory is to put pressure on house speaker john boehner to bring the legislation to the house floor even though it it will almost certainly not have the support of a majority of house republicans. so that's the game plan. the goal is get 70 votes in the senate, a goal that has seemed, w
CNBC
Jun 20, 2013 9:00am EDT
is not only allowing inflation, but the fact that it won't come down. and now the u.s. economy has to take into account that and the move of rates and the 1.5% move in rates is a hard pill to follow. >> and scott n the last three or maybe four, the feds have come in, and they have said, i am short the 10-year and take a boatload and every year they are wrong, and perhaps now, but to this point, we are waiting for an appreciable move in rates for year and years and the fact that the economy may not stand on its own legs is curious to me. i am curious what you are hearing out there, as well, scott, in terms of the pain people are taking on the fixed income side, and those who are not short credit and obviously watching the equities sell off. >> the market, whether it is treasuries or equities, the market was probably hoping and probably against the better judgment probably that bernanke yesterday was going to sort of walk it back, and walk back the notion that they were going to mention taper org that -- tapering or going to do it any time soon and we know that the people you are talking abo
CSPAN
Jun 20, 2013 1:00am EDT
debate in congress and the economy. jammer -- tim murphy talking about how obamacare is behind schedule. >> in a lot of ways, this is a challenge. we have a liberal democratic presidents who is not only been elected but reelected. yes projects i think are very wrongheaded. time.a challenging it is also an exciting time. trying to modernize conservatism to bring it in- line with the challenges that the country faces now. we want to help conservatives in the country think about how to confront the challenges of the 21st century. neither side is doing a good job of that. there's a lot of thinking about what the 21st century requires, in terms of change, to get back to economic growth and prosperity. to get back to a cultural revival that we need. is challenging challenging and exciting. >> more with national affairs editor on sunday. [captioning performed bynational captioning institute][captions copyright nationalcable satellite corp. 2013]>> at his poorly briefing, ben bernanke said that the fed might ease up on its federal stimulus plan this year. he also discussed financial regulations
FOX Business
Jun 20, 2013 11:00am EDT
. bernanke said the fed could slow its bond line program later this year, as long as the economy keeps growing and unemployment falls. in a note to clients, renaissance marker research said we suspect the markets are significantly overreact into the process of tapering. rbc capital markets said one of the big surprises in bernanke's press conference was that the chairman did not attempt to walk back the recent rise in interest rates. bernanke said yesterday that tapering really was not that bad. kind of like taking your foot off the gas pedal in the car and hitting a nice cruising speed, not hitting the brakes. >> what he is doing is a lot like monetary drunk driving. >> we will get more clarity at the end of july. connell: thank you much. brian jacobson for us next. it is always good to have brian's point of view. to what level is your anxiety level at this stage? >> my anxiety level is very low. i understand that they have a centrally planned economy. they can marshal resources to prop up their banks if necessary. i am not concerned about the federal reserve cutting back on their ass
MSNBC
Jun 21, 2013 3:00am PDT
-- pumping billions and billions of dollars into the economy. is it possible that we have gone from a tech bubble to a housing bubble to a fed bubble? >> it's absolutely a risk. the real question is is this easing? all this billions and billions of dollars, trillions of dollars really of dollars the federal reserve has printed and pumped into the economy. have they created a real enduring economic expansion? can housing exist? can housing keep recovering even without ultra-cheap money? can the housing market keep rising without ultra-cheap money? can housing growth continue? that's the bet that ben bernanke has been making the past couple of years. the question is is the debt going to pay off, or will we be right back in this mess we were five years ago? >> isn't the case when former chairman allen greenspan greens retired, he was pummeled because of the housing bubble. isn't it the case, since greenspan left, we've become more liberal with our monetary supply as far as pumping more money into the monetary supply. money has been basically free for investors and businesses for the past seve
CNBC
Jun 18, 2013 1:00pm EDT
of different economies, but housing is key to the u.s. economic recovery along with jobs. how does it look to you? >> i come home from my travels i see it in my own street, that a developer bought the property opposite of us, completely overhauling the original house and building a new one right next to it, kind of noisy. sends me back in my travels again. the infliction point happened, i can tell you when it happened, whenity remortgaged and fixed, and from that moment on you've seen the tightening beginning, and this is going to be a very interesting challenge for the housing recovery as we get further indications from the fed tomorrow that there's tightening coming. that's already begun to affect mortgage rates, and if there's one thing that could cool things down it's going to be a sense that the party is over in terms of quantitative easing. >> diana, weigh in on that, you've made the very points that there may be a cooling of course, but as rates rise it may get people off the couch and into contracts. >> yeah. that's a very short-term phenomenon, and i'd be interested to hear from n
CNBC
Jun 20, 2013 4:00pm EDT
tapering i think will be symbolic. we have inflation high and i don't think to the economy is quite making it out what the fed is meant to be. i think we will see a bounce back here. >> would you say you want to buy here or wait and see if things settle out in more after wash-out? >> i would start to get money involved here. even during the run-up waiting for an opportunity to get into the market. here is an opportunity. you don't have to put everything in but it is time to move some money back into the market, cheaper valuations here. >> michael pento, how do you see it? >> first of all, mr. bernanke is a very confused man. he launched qe4 in january. january of this year. not only six months later, not even six months later, he lowers his growth forecast, takes down dramatically, his inflation outlook, and then for the first time ever, outlines a time line where he's going to get out of his quantitative easing strategy. so he surprised a lot of people on wall street and i got news for mr. bernanke. he does not control long-term interest rates and he has this economy 100% addicted to his
CSPAN
Jun 17, 2013 8:00pm EDT
of america, this remains a vibrant place to live with a balanced economy. the american people must have a voice about what those rules will be. and congress cannot skirt responsibility to legislate. again, i would like to close here by thanking those who led this effort, mr. collins in particular, for leading the floor conversation. he has shown great leadership, working very hard. you came here as did other members of the freshman class to make a difference by supporting the reins act and i think you will advance that cause. mr. collins: it is easy to follow in the stoot steps. and we will work to continue that fight. i thank you for being here tonight. it is now with great pleasure, another freshman who has come from north of me in north compassion for his constituents. mr. holding: i thank the gentleman from georgia for the opportunity to discuss this administration's excessive regulations. we know the harmful effect that overregulations had on the economy and since taking office, president obama and his administration have continuously burdened the american people with an exceptiona
CNBC
Jun 17, 2013 6:00am EDT
morning to you. leaders of the world's most powerful economies are gathering in northern ireland for a two-day summit. british prime minister david cameron is the host, and he's pushing for countries to share more financial information. leaders there also expected to discuss differences on some of the big issues. syria's civil war, free trade between europe and north america and of course global tax evasion. we'll have a live report from steve sedgwick on the ground in the next hour. >>> unions in turkey, they're on a owuone-day strike over the eviction of protesters from a park in istanbul. police and protesters clashed from sporadically overnight following a weekend of scuffles in the city. nbc's richard engel will join us with the latest in the next hour. >>> also in corporate news this morning, a large activist investor in smithfield foods is pressuring the company to explore a break-up rather than go ahead with that planned $4.7 billion takeover by a chinese meat producer. i don't know if this is going to make joe happy or not, but "the wall street journal" reporting that starboard va
PBS
Jun 20, 2013 11:00pm PDT
is in cities and metropolitan contraries because these are the engines of the economy, centers of trade and investment. top 100 metros so only one ace of the land mast, two-thirds of the population, three quarters of the gdp and on every indicator that matters, infrastructure and human capital and innovation. 75, 80, 85, 90% of the nations share. there really is no american economy. what we have is a network of metro economies and they're now stepping up and doing the hard work. >> but at the same time we all know that some of the toughest economic challenges are the state and local level. >> absolutely. but the great thing about metropolitan areas is they're not just governments. you know, the federal government is a government. state governments are government, metropolitan areas are networks. and we see that these networks are finding really creative and beneficial ways. >> rose: networks between what? >> networks of different companies, different philanthropic groups, different individuals, all coming together. they have loose or tight connections. and they can fund things more-- in
CSPAN
Jun 22, 2013 7:00am EDT
university, about the state of the u.s. economy. later in the program we will be joined by a matthew segal. he will be here to talk about issues important to young americans. you are watching "washington journal." we will be right back. ♪ >> when you talk about transparency to the american public, there is -- you are going to give up something. you are going to be giving signals to our adversaries as to what our capabilities are. the more specific you get about the program, the more specific about the oversight, the more specific you get about the capabilities and successes, to that extent you have people sitting around saying, "ok, now i understand what it can be done with our numbers in yemen and in the united states and consequently i am going to find another way to communicate." there is a price to be paid for that transparency. where that line is drawn, in terms of identifying what our capabilities are, is out of our hands. if you tell us to do it one way we will do it that way. there is a price to be paid for transparency. >> robert muller makes his last scheduled appearance before
CBS
Jun 17, 2013 4:30am EDT
at discussing world trade and what to do about the ailing economy, the two-year war in syria is expected to dominate. susan mcginnis is in washington. susan, good morning. >> good morning, anne-marie. security is tight at the lakeside golf resort where this summit is being held. along with syria, another topic that might come up is some top-level eavesdropping among foreign diplomats. president obama is in northern ireland to meet with world leaders at the g-8 summit. syria is not normally on the docket but is expected to dominate the talks following president obama's move to ship weapons to rebels fighters. >> there are very big differences between the analysis of what happened in syria and who is to blame. >> russia is noun to have given weapons. president vladimir putin says the rebels in syria are terrorists and barbarians who have even practiced cannibalism. >> are these the ones you want to support? are these the ones you want to supply with weapons? >> president obama and pr putin are expected to hold private conversation this afternoon. the conversation comes after a new report r
CBS
Jun 17, 2013 4:00am EDT
economy the war in syria is about to dominate. >>> security is tight at the lakeside golf resort where this summit is being held. along with syria, another topic that might come up is some top-level eavesdropping among foreign diplomats. president obama is on his way to northern ireland to meet with world leaders at the g-8 summit. syria is not normally on the docket but is expected to dominate the talks. >> there are very being differences between the analysis of what happened in syria and who is to blame. president vladimir putin says the rebels in syria are terrorists and barbarians who have even practiced cannibalism. >> are these the ones you want to support? are these the ones you want to give weapon ons. >>> the conversation comes after a new report reveals the u.s. and uk spied on ryu shorthand others at another summit. the "guardian" newspaper says it has evidence that they spired on the london summit of 2009 hacking into smartphones and reading e-mails. the source? edward snowden. >> how much damage he did do? the fact is that time will tell. >> on cbs's "face the nation," ch
MSNBC
Jun 19, 2013 3:00am PDT
economies in terms of -- because they need europe to be able to take their stuff. watch for china -- i don't know who's really running that country, but i can tell you this, their deceleration in economics is just incredible. it's not bringing us down. >> china may go down below 7%, 6% growth this err year. we are right now the tallest building in elmira, new york. >> it's the shung kamao bank. >> how do you know about elmira, new york? >> i come to play. >> you do come to play. we may be the tallest building in elmira, new york, but people keep buying the dollar. what are you going to do? go to europe? go to china? they're all train wrecks wait to go happen. >> you can't feed china. that's a big issue. 700,000 recespiratory deaths la year. let's go to john meacham. speaking of smoking, he smokes way too much. john, you look at europe, the g-8, they were all lecturing president obama three years ago. sarkozy, where is he now? who knows? he's probably staying at your place in the south of france. >> oh, no, unh-unh. >> but united states is in this strange position of just sort of crawling a
FOX Business
Jun 20, 2013 4:00pm EDT
many financial stocks particularly those exposed to the domestic economy. david: okay. >> the u.s. is well-capitalized -- david: i have to put you on pause there when you're on financials. we'll take issue with you. we have earnings coming in from oracle. jo ling kent what do the numbers look like? >> dave, we have an 87 cents per share eps which is exactly as expected. $10.95 billion which is a miss on revenue. breaking down numbers a little bit, we see a quarterly revenue of $849 million. what is interesting, new software license revenues were up 1.4% to 4 billion. they were expecting to see this go from, between 1 and 11% that is certainly on the low end. that is a very important area for oracle to grow especially if other companies get into this market. david: i want to go back to todd. we have a lot of news to cover i don't want to focus on any one stock but does this tell you anything about oracle? >> this is common throughout the entire earnings season. miss on the top line. that is the whole story. oracle looks pretty good chartwise. with the current market conditions it
CNBC
Jun 17, 2013 6:00pm EDT
the economy may not be enough to draw the sim lus in fine 13. what's that mean? in 1937, when we were coming out of the great depression, the white house and congress decided things were bouncing back strong! strong enough that it was time to start closing the deficit by raising taxes and putting less financial support into the economy t. fed agreechltd hey, come on, man, it was a first class disaster. >> the house of pain! >> it turned out to be a recession within a depression. now the president and congress have raised taxes as a part of the fiscal cliff deal. they agreed to the sequester, which was supposed to cut the defend spending. it is impacting a lot of little programs the media isn't focused on. wetion heard much about it. the fact that they're at 52-week highs, makes it seem like the sequester doesn't matter at all, who cares? government just doesn't know what it's doing. that's not the point. the point is neither the president or congress is doing anything extra substantive to get it moving beyond what it's done. we have for the interstate highway to build out over ike. we have n
CNBC
Jun 17, 2013 11:00pm EDT
. then there are the people. the other one who matters, ben bernanke, he recognizes the economy may not be enough to draw the sim lus in fine 13. what's that mean? in 1937, when we were coming out of the great depression, the white house and congress decided things were bouncing back strong! strong enough that it was time to start closing the deficit by raising taxes and putting less financial support into the economy. fed agreed. hey, come on, man, it was a first class disaster. >> the house of pain! >> it turned out to be a recession within a depression. now the president and congress have raised taxes as a part of the fiscal cliff deal. they both agreed to the sequester, which was supposed to cut defense spending. it is impacting a lot of little programs the media isn't focused on. we haven't heard much about it. the fact that they're at 52-week highs, makes it seem like the sequester doesn't matter at all, who cares? government just doesn't know what it's doing. that's not the point. the point is neither the president or congress is doing anything extra, anything substantive to get it moving beyond w
NBC
Jun 18, 2013 3:00am EDT
to start closing the deficit by raising taxes and putting less financial support into the economy. fed agreed. hey, come on, man, it was a first class disaster. >> the house of pain! >> it turned out to be a recession within a depression. now the president and congress have raised taxes as a part of the fiscal cliff deal. they both agreed to the sequester, which was supposed to cut defense spending. it is impacting a lot of little programs the media isn't focused on. we haven't heard much about it. the fact that they're at 52-week highs, makes it seem like the sequester doesn't matter at all, who cares? government just doesn't know what it's doing. that's not the point. the point is neither the president or congress is doing anything extra, anything substantive to get it moving beyond what's done. we have no interstate highway to build out over ike. we have no wars, fortunately, like world war ii. we don't have a problem to fix bridges and tunnels. i often think the pipeline companies and google, google are doing more to help infrastructure and the government. into the breech comes ben
CSPAN
Jun 21, 2013 9:00am EDT
much that is costing the european economy, european jobs, and the european government? guest: at the moment, we are asking our citizens to do a lot of sacrifice in order to adjust to the impact of the financial crisis. we cannot allow a number of people to escape, a number of people to evade their tax responsibilities. so, i think this was a powerful message from the g8. very much supported and initiated by the europeans to make sure that our tax system is assumes itsverybody responsibilities in terms of and that when we ask normal citizens to make sacrifices, we should at the same time ensure that any of the people that tries to escape this sanctions -- is sanctions. cooperation among states is an effective one, and this is what they discussed in the g8 and what we are implementing. we are happy to see that we are on the same wavelength with the americans. host: what about switzerland? is which alone one of those locations used as a tax haven? guest: switzerland is not part of the european union, but we have a solid relationship with switzerland. we made a number of agreemen
CNN
Jun 19, 2013 1:00pm PDT
pleasure, thank you. >>> next in the money lead, the head of the fed says the economy is improving but free money is still flowing. so where do we stand now? plus, amnesty, the word that might kill the immigration reform bill. many conservatives coming to washington are fed up. i will ask democratic congressman castro whether he thinks the immigration reform bill has a chance in the house. [ indistinct conversations ] [ male announcer ] when you wear dentures you may not know it, but your mouth is under attack. food particles infiltrate and bacteria proliferate. ♪ protect your mouth, with fixodent. the adhesive helps create a food seal defense for a clean mouth and kills bacteria for fresh breath. ♪ fixodent, and forget it. ♪ hooking up the country whelping business run ♪ ♪ trains! they haul everything, safely and on time. ♪ tracks! they connect the factories built along the lines. and that means jobs, lots of people, making lots and lots of things. let's get your business rolling now, everybody sing. ♪ norfolk southern what's your function? ♪ ♪ helping this big country mo
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